Huobi Pro announced on June 26 that its digital asset platform supports a VeChain mainnet switch. The platform recommends that users deposit VEN to Huobi Pro, as the latter will support VEN mapping. Users need not take further action – once the mainnet starts to operate normally, users can pull out.
For those who are unfamiliar with VeChain, it is a blockchain platform that deals with financial services. The platform is altering its name to VeChain Thor, with VET base token. The launch of the Thor mainnet is causing users to wonder how they’ll be able to trade VEN for VET tokens.
VeChain decided to make the alteration because it’ll make it easier to handle VET instead of both VET and VEN. Also, users will be able to receive an equal amount of VET tokens through the VeChain Thor mainnet. Investors are also wondering about the price of VET after the mainnet launches.
Once the launch commences, VEN tokens will be altered to 100 VET and the launch will facilitate a smaller transaction cost as well. VET will cease to exist once the launch takes place as well.
Users who do not intend to transfer their tokens to an exchange for the mainnet launch can relay them to a new wallet, which will then facilitate the swamp from VEN to VET.